InvestIdeas

Not vested

Value Partners lifted their holdings in Le Saunda (0738).

Le Saunda will keep growing fast in line with the women's shoe market in China.

Le Saunda shares have had more than a 20 percent correction.

Near HK$3.70, they look ripe.


Source: Dr. Check, The Standard HK

not vested

Summary

Despite the well-flagged headwinds ahead, the Company is currently trading at P/E ratio of merely 6.62x, well below the industrial average.

We recommend to hold inside the portfolio for diversification, as the Company is better valued than the industrial peers possessing upside potential should the market condition turn out better than expected.

The current industrial average P/E is 14.41x and we forecast that the valuation gap will be contracted by 15%, implying a trailing P/E of 7.84x and target price of HK$2.38 with 17.2% upside potential.

We forecast our 12-month target price of Le Saunda be to HK$2.38 with an ` Accumulate ` rating.


Source: Phillips

not vested

1H, 2012

Rev: +13%
EPS growth: -13%

http://www.hkexnews.hk/listedco/listcon ... 026005.pdf

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LE SAUNDA HOLD (00738.HK)'s retail sales in 3Q jump 17%

LE SAUNDA HOLD (00738.HK) announced that total sales at its retail unit jumped 17.2% year-on-year in the third quarter, during which same-store-sales gained 9.1%.

Source: AAStocks Financial News

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Fiscal first half profit at Le Saunda (0738), another footware retailer, fell 28.8 percent to 55.2 million yuan from a year ago.

Source: The Standard